New Ulm weekly review., 1887-03-02
Wednesday, March Q, 1887.

& p
The Argentine Confederation has for
some time been offering a subsidy of
100000 per annum to any American
steamship company that would arrange
for twelve trips each year between New
York and Buenos Ayres and thus open
direct communication between the
United States and the South American
republic. This offer was made in the
belief that our congress could be induced
TO grant subsidy proportionally liberal
for the same purpose. All that congress
did in this direction was to offer $4,000
a year for the carriage of American
mail by such steamship line. 1t
should be borne in mind that the Ar
gentine Confederation has a foreign
trade which, if computed on the basis
of population, is more than double that
Of the United States. At present, the
Confederation exports annual $10,000,-
900 worth of its products to England
and $50,000,000 worth to the United
States, while itimports $40,000,000 from
England and $8, 900, 600 from the United
States. In this case the balance of trade
in favor Of England is $30,000,000,
while our own country has a balance of
$42, 000,0 against herself. The explain
ion of this delightful state of affairs is
exceedingly simply. Thirty y-eightsteam-
ships ply regularly between Buenos Ay-
res and the ports of Great Britain and
other countries, except the United
States; and although we pay the Confed-
GRAFTON an annual balance of $4,000,
000-just dozen millions more than
required to square it's account with
England there is not a place in the
whole republic where New York ex-
change can be bought, and even the
drafts of our own officials in that coun-
try must be drawn through London.
The foregoing is but fair illustration
of the methods we employ to promote
our foreign trade. England and Ger
many are constantly increasing their
foreign commerce by liberal subsidies
to steamship lines; we are pursuing a
different course. We request our man.
ufacturers in a number.of lines not to
venture out upon the worlds market,
where by reason of close competition
they would realize somewhat smaller
profits than under our present system
they are allowed to squeeze out of our
own people. Under the pretentious
name of protecting home industries our
people are made to pay subsidies for
obstructing our foreign commerce.
Free trade would naturally direct the
main bulk of American capital into
these channels in which it can profta-
bly, compete with foreign concerns at
home as well as abroad. A high tariff
system, however, offers such superior
inducements in the home market that
the foreign traffic is pushed to the rear.
A manufacturer does not care to make
ten per cent. out of foreigners if he can
get twenty out of Americans on all the
capital he is able to invest. With a
half-suppressed war-whoop in our throat
and Admiral Porter's howl for 12O iron
clads ringing in our ears. we can hard
ly afford to give any attention to such
peaceful subjects just now. If we
could, it might be we'll to consider
whether, in lieu of squandering numer-
Gus millions on a martial navy that will
soon decay again because we shall not
be in need of it. 1t were not better to
create the nucleus sf commercial fleet
owned by the government and trans
porting commodities at actual cost.
An expenditure in this.direction would
go toward 'Pretteeting'' our foreign
commerce. and would amply compen-
safe our industries for any losses they
would possibly sustain from = reduction
or abolition of high tariffs.
The industrial labor convention held